I recently reviewed the 1-hour chart of Ethereum and found some signals worth paying attention to.

From the candlestick patterns, the price is consolidating between the middle and upper bands of the Bollinger Bands, currently around 2950. This position is interesting—the bands are narrowing, indicating low volatility and market energy accumulation.

The MACD indicator provides a clearer picture. The yellow and white lines are close above the zero line, showing signs of potential upward divergence. Although the green histogram bars are still short, they haven't turned red, suggesting that the bulls are still gathering strength and the bears haven't taken over.

From a support level perspective, the price has tested the 2938-2940 zone multiple times and found support, indicating the validity of this support band. The current sideways movement seems to be digesting previous gains and building momentum for the next upward move. Once trading volume increases and breaks above the upper band resistance, there is potential for further upside.

From an operational standpoint, an ideal low-entry point is around 2940-2945. If the price stabilizes here, it could be a relatively good entry opportunity. For a more aggressive approach, you can also try a small position near the current price of 2950 to test the bulls. However, be sure to set a stop-loss below 2925. If this level is effectively broken, the short-term structure will be compromised, and you should exit to reassess.

On the upside, the first target is near the upper Bollinger Band at around 2966. If it breaks through and stabilizes, next focus can be on the key psychological levels at 2980-3000.

Final note: set your stop-loss, control your position size, and remember that the market is always smarter than analysis. Adjust your strategy according to the market conditions.